Aveanna Healthcare (NASDAQ:AVAH) Trading Down 6% After Insider Selling

Aveanna Healthcare Holdings Inc. (NASDAQ:AVAH) shares fell 6% during trading on Friday after an insider sold shares in the company. The stock traded as low as $5.09 and last traded at $5.14. 215,932 shares changed hands during trading, a decline of 9% from the average session volume of 236,904 shares. The stock had previously closed at $5.46.

Specifically, major shareholder J.H. Whitney Equity Partners V sold 61,564 shares of the company’s stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $5.51, for a total value of $339,217.64. Following the completion of the transaction, the insider now directly owns 1,453,948 shares in the company, valued at approximately $8,011,253.48. This represents a 4.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. UBS Group boosted their price target on shares of Aveanna Healthcare from $3.20 to $4.50 and gave the company a “sell” rating in a report on Friday, March 14th. Truist Financial dropped their price target on shares of Aveanna Healthcare from $6.00 to $5.25 and set a “hold” rating for the company in a research report on Monday, January 6th.

Aveanna Healthcare Price Performance

The firm has a 50 day simple moving average of $4.63 and a 200-day simple moving average of $4.96. The stock has a market capitalization of $999.86 million, a price-to-earnings ratio of -15.11 and a beta of 2.25.

Institutional Investors Weigh In On Aveanna Healthcare

A number of hedge funds have recently made changes to their positions in AVAH. First Eagle Investment Management LLC bought a new stake in Aveanna Healthcare during the fourth quarter worth about $1,992,000. Jacobs Levy Equity Management Inc. grew its position in Aveanna Healthcare by 297.6% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 355,340 shares of the company’s stock worth $1,848,000 after acquiring an additional 265,969 shares during the last quarter. Millennium Management LLC increased its holdings in Aveanna Healthcare by 105.0% during the 4th quarter. Millennium Management LLC now owns 400,374 shares of the company’s stock valued at $1,830,000 after purchasing an additional 205,023 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in Aveanna Healthcare in the 3rd quarter valued at $817,000. Finally, Swiss National Bank acquired a new position in Aveanna Healthcare in the fourth quarter worth $434,000. Institutional investors and hedge funds own 87.96% of the company’s stock.

About Aveanna Healthcare

Aveanna Healthcare Holdings Inc, a diversified home care platform company, provides pediatric and adult healthcare services in the United States. Its patient-centered care delivery platform allows patients to remain in their homes and minimizes the overutilization of high-cost care settings, such as hospitals or skilled nursing facilities.